Russia Economy Minister Says Slow Growth Is Higher Risk

Alexei Ulyukayev Sees 2014 Inflation Below 5%

MOSCOW—Russia faces more risks of slow growth than of high inflation, even despite a sharp weakening of the ruble, the country's economy minister said Tuesday.

Speaking to reporters, Alexei Ulyukayev said, "Risks for the growth are more acute and present, than the risks of high inflation," adding that Russia isn't in stagflation—a combination of slow growth and high inflation.